Press releases - 2004

Aberdeen Property Investors is to acquire Catella’s property management companies in Belgium and the Netherlands. The acquisition is part of Aberdeen’s strategy of expanding in the European property investment market. Meanwhile, Catella is gearing up to accelerate its involvement in transaction services in both these countries. Aberdeen and Catella also establish an agreement for future cooperation in these markets.

In just five months Aberdeen Property Investors’ Norwegian real estate mutual fund has attracted investment capital of over NOK 800 million. The fund was launched in June this year with NOK 400 million – primarily from 12 institutional investors, but also from the private capital market. Since then investments of NOK 400 million have been added, including from two pension funds, and a further NOK 200 million has been committed for the next closing date of 30 November. The existing investors have also notified that they will increase their investments as the fund grows.

Today Aberdeen Property Investors Denmark A/S is launching API Property Fund Denmark P/S, one of the first real estate mutual funds in the Nordic region. It is being run as a tax-transparent limited partnership, which offers investors substantial tax benefits. The mutual fund is mainly aimed at institutional investors, both Danish and international, looking for a good, secure, and well-diversified investment.

The Suomi Group, one of Finland’s largest Life Assurance Companies, has appointed Aberdeen Property Investors’ Indirect Investment Management team to invest €150 Million in European unlisted property funds.

Aberdeen Asset Management PLC (”AAM”) announced on 5 April 2004 that it had conditionally agreed to sell its UK and Continental European property investment management businesses to Arlington Securities Limited (”the Disposal”). AAM is retaining its Nordic property investment management business (”Aberdeen Property Investors Nordic”). The Disposal was completed 25 May 2004.

IXIS AEW Europe has appointed Aberdeen Property Investors to manage the property portfolios it recently acquired from Nordea in Sweden and Finland. The assignment comprises asset management, transactions, project co-ordination and property management.